WORLD Law Direct Forums  





Go Back   WORLD Law Direct Forums > Family Law, Divorce, Custody > Wills, Trusts, Estates
REGISTER FAQ SEARCH Today's Posts Mark Forums Read
Personal Lawyer Legal Forms Calendar

Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc.

life estate

Consult Your Own Personal Lawyer Now!
Reply
AddThis Feed Button
 
Thread Tools Search this Thread Rate Thread Display Modes
Old Nov 9th, 2006, 02:48 AM     #1
berigan
 
berigan's Avatar
 
Posts: n/a

Confused life estate

In 1990 my recently deceased wife had her then mother-in-law deed to her a home along with a "life estate". The older woman was subsequently admitted to a nursing home for the remainder of her life. At the time of the admittance, the county placed a value on the life estate of $42,000. At the same time a "letter of intent" to file a lien was filed with the county clerk. Now that my wife has died the house is in the estate, and left to my stepson who is executor. My questions: Inasmuch as no lien as yet has been effected, can the property be conveyed to me from my stepson without the lien being imposed. I am willing to buy the property subject to the lien. Might the lien be interest bearing? It is my wish of course, to purchase the property without the significant financial imposition of the lien. Might the lien be negotiable? Could the deed be conveyed without recognizing the letter of intent? A cloud on the title doesn't particularly frighten me. Thank you for your anticipated input.---John Berigan
  Reply With Quote
Old Nov 9th, 2006, 11:06 PM     #2
Unregistered
 
Unregistered's Avatar
 
Posts: n/a

Default Re: life estate

Have a title company do a search and see what if anything has actually been filed--it may be that it is free and clear.
  Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Add Forum to Google Toolbar | Format Your Messages

Posting Rules

Similar Threads
Thread Thread Starter Forum Replies Last Post
life estate Unregistered Tax Issues 0 Mar 4th, 2008 07:09 PM
life estate Unregistered Wills, Trusts, Estates 4 Jan 7th, 2008 06:45 PM
more life estate questions theeman Landlord vs Tenant Issues 2 Nov 7th, 2007 12:52 PM
life estate problem theeman Other Real Estate Law Matters 1 Oct 23rd, 2007 06:41 PM
Life Estate Question... Unregistered Wills, Trusts, Estates 1 May 13th, 2007 05:55 PM


All times are GMT -5. The time now is 12:07 AM.


Subscribe

Use of the Forums is subject to our Disclaimer which prohibits unapproved advertisements, solicitations or other commercial messages, and false, harassing or abusive statements. All postings reflect the views of the author but become the property of WORLD Law Direct.

Questions and information submitted in the Forums are assumed inquiries for general information and not legal advice.

Copyright 2000-2009 by WORLDLawDirect.com, Inc.